Sprott Physical Gold Trust (NYSEARCA:PHYS) Reaches New 52-Week Low – Time to Sell?

Sprott Physical Gold Trust (NYSEARCA:PHYS) reached a new 52-week low during mid-day trading on Thursday. The company traded as low as $29.12 and last traded at $29.1920, with a volume of 1,123,488 shares traded. The stock had previously closed at $30.10.

Sprott Physical Gold Trust Trading Down 2.7%

The firm’s fifty day moving average is $31.55 and its 200 day moving average is $33.82.

Institutional Investors Weigh In On Sprott Physical Gold Trust

A number of institutional investors have recently modified their holdings of the stock. Sequoia Financial Advisors LLC increased its stake in shares of Sprott Physical Gold Trust by 1.1% in the second quarter. Sequoia Financial Advisors LLC now owns 28,865 shares of the exchange traded fund’s stock worth $871,000 after acquiring an additional 319 shares during the last quarter. Community Financial Services Group LLC grew its stake in Sprott Physical Gold Trust by 8.0% in the second quarter. Community Financial Services Group LLC now owns 5,420 shares of the exchange traded fund’s stock valued at $165,000 after purchasing an additional 400 shares in the last quarter. Wealthspire Retirement LLC increased its position in Sprott Physical Gold Trust by 7.1% in the 1st quarter. Wealthspire Retirement LLC now owns 7,034 shares of the exchange traded fund’s stock worth $249,000 after purchasing an additional 464 shares during the last quarter. Beam Wealth Advisors Inc. increased its position in Sprott Physical Gold Trust by 1.5% in the 3rd quarter. Beam Wealth Advisors Inc. now owns 38,714 shares of the exchange traded fund’s stock worth $1,211,000 after purchasing an additional 556 shares during the last quarter. Finally, International Assets Investment Management LLC raised its stake in shares of Sprott Physical Gold Trust by 6.0% during the 3rd quarter. International Assets Investment Management LLC now owns 10,300 shares of the exchange traded fund’s stock worth $324,000 after purchasing an additional 584 shares in the last quarter.

Sprott Physical Gold Trust Company Profile

Sprott Physical Gold Trust operates as a closed-end investment trust, which engages in investing and holding all of its assets in physical gold bullion. Its investment objective is to provide a secure, convenient, and exchange-traded investment alternative for investors through investing primarily in long-term holdings of unencumbered, fully allocated, physical gold bullion and will not speculate with regard to short-term changes in gold prices. The company was founded on August 28, 2009 and is headquartered in Toronto, Canada.